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The US is unequal largely because the US exported millions of blue collar jobs to Asia but did not proportionally increase incentives to create jobs for those d
by rrggrr 12y ago
The US is unequal largely because the US exported millions of blue collar jobs to Asia but did not proportionally increase incentives to create jobs for those displaced. This only affected the middle class as the highest earners benefited or were untouched by the job exports. The US then created huge incentives for "investment" in home purchases and other real-estate, creating a spectacular bubble that worsened inequality all the more when it burst. That did impact higher earners. Everyone is worse off. So, it must be the case that now Congress and the President are working together to make job creation, manufacturing and competitiveness a priority, right? Not so much. New manufacturing innovation centers appear to be patronage boondoggles. While billions went to bank bailouts, the Small Business Administration saw no significant increase. Taxes actually increased for employment, and the US healthcare law has made health insurance more (not less) expensive for many employers.